The Supreme Court delivered a major blow to the Trump administration Friday, striking down the president's sweeping global tariffs in a 6-3 decision that immediately scrambled the investment landscape.

If you're wondering what this means for your money, here's the short version: uncertainty just got cranked up to 11, and nobody knows what happens next.

The court ruled that Trump exceeded his authority by invoking the International Emergency Economic Powers Act to impose "reciprocal" tariffs across the globe, plus targeted duties he claimed would address fentanyl trafficking. According to the Wall Street Journal, these tariffs represented about 70% of the president's second-term trade policy and were expected to raise $1.5 trillion over the next decade.

That's a lot of revenue that just evaporated.

But markets aren't celebrating. The S&P 500 opened mixed despite the ruling, because investors quickly realized this isn't the end of the story. Trump can still go to Congress and ask them to reinstate the tariffs through legislation. With Republicans controlling both chambers, that's not exactly a longshot.

So what should you actually do with your portfolio?

Winners (Maybe): Companies with global supply chains that got hammered by the tariffs should theoretically benefit. Think manufacturers who import components, retailers relying on China, and multinationals with complex international operations. But don't rush in yet—if Congress reinstates these duties in three months, you're back to square one.

Losers (Also Maybe): Domestic manufacturers who reshored operations to avoid tariffs now face renewed competition from cheaper imports. The irony is thick: companies that followed the administration's playbook and brought production home may have just lost their competitive advantage.

The Real Issue: This is a masterclass in policy whiplash. GDP data released the same day showed the economy growing at just 1.4% in Q4—well below the 2.5% estimate—while inflation held firm at 3%. That's the dreaded stagflation setup: slow growth, persistent inflation, and now complete uncertainty about trade policy.

The Federal Reserve is stuck. They can't cut rates with inflation at 3%, but they can't justify staying tight if growth keeps slowing. Add tariff chaos to the mix, and Jerome Powell might as well flip a coin.

Here's what I'm watching: How fast does Congress move? If they reinstate tariffs within weeks, this was all just noise. If it drags into summer, companies will adjust supply chains again, and we'll get another round of disruption. Either way, your 401(k) is along for the ride.

The smart play? Don't overreact. This ruling changes the legal framework, not the underlying economic reality. Trade tensions aren't going away, whether tariffs come from executive orders or congressional votes. Stick to diversified positions, keep some cash on hand for opportunities, and remember: when policy becomes this unpredictable, the only winning move is not to panic.

If they can't explain what happens next, they're probably hiding the fact that nobody knows.